§ 12-1107

Maryland § 12-1107

• Jurisdiction: Maryland
• Article gcl: Commercial Law
• Title: 12

Text

(a) A lessor shall provide the consumer with a written receipt for each payment under a rental–purchase agreement made in person by cash or money order, or, if the payment is made in any other form, on request.

(b) The written receipt shall contain the:

(1) Total amount paid;

(2) Total amount due that week or month; and

(3) Total remaining rental payments necessary to acquire ownership of the item.

(c) The lessor shall provide the consumer with a written statement of account within 3 days after the consumer’s request.